The task to complete construction on Złota 44 is in capable and familiar hands. US-based investment manager Amstar and Warsaw-based BBI Development recently reached an agreement with the project’s previous general contractor, INSO, to complete construction on Złota 44.
“The agreement with INSO is an important milestone in our plan to bring Złota 44 back to life,” said Michał Skotnicki CEO of BBI Development SA. “I am pleased that INSO will remain as the general contractor, as they are very familiar with the project and will ensure a smooth construction process and on-time completion.”
Per the details of the agreement, construction will resume in late-February 2015 and completion is scheduled for mid-2016. Amstar and BBI announced that the move-in date for first residents will be in the fourth quarter of 2016.
Amstar Vice President Jeff Stonger added: “Re-engaging INSO was a clear choice. It has always been evident to us that the previous challenges associated with the project were in no way due to the existing work, which is of the highest quality. INSO brings significant experience and skill to the team and we look forward to delivering Złota 44 to the market and providing residents with an unmatched living experience.”
INSO has a wide range of construction experience in Europe, the Middle East, North Africa and South America. INSO is part of Condotte Group, one of the largest construction groups in Italy, which has an established market position with revenue of €1.2 billion, of which €300 million relates to INSO.
“We are very pleased to have the opportunity to finish what we started and complete construction on Złota 44,” said INSO CEO Fabrizio Pucciarelli. “Złota 44 is a very unique project and we take pride in constructing what will be a world-class residential building.”
Złota 44 is a symbol of modern Warsaw. Designed by world famous architect Daniel Libeskind, it is one of Europe’s largest and most luxurious residential development projects. Thanks to its signature sail shape, the luxury apartment building, which towers over the very heart of the city, has become an icon of Poland’s and Warsaw’s continued development.
Złota 44’s iconic design, prime location and luxurious lifestyle will make it the best choice for even the most discriminating buyers. Buyers can take comfort in knowing the project is backed by an experienced local developer in BBI Development and a strong financial partner in Amstar.